HBMA was formed in 1993 by a core group of individuals who had a vision of a forum, rich in resources, to guide their collective efforts towards a highly professional image within the medical community.
The Healthcare Business Management Association (HBMA), a non-profit professional trade association, is a major voice in the revenue cycle management industry in the United States. HBMA members collectively submit a significant percentage of all initial medical claims to the country's governmental and commercial payers. Those claims not submitted by HBMA member companies are usually submitted directly by the provider.
Although HBMA membership includes some of the nation's largest billing companies (1,000+ employees submitting millions of claims), the typical HBMA member is a small to medium sized business employing, on average 40 - 50 individuals. Nearly half of HBMA members have clients in more than one state.
HBMA is a recognized revenue cycle management (RCM) authority by both the commercial insurance industry and the governmental agencies that regulate or otherwise affect the U.S. healthcare system.
HBMA Core Values
HBMA values the highest level of professionalism, integrity and compliant business practices in every aspect of our industry. We expect transparency and accountability from our leaders while ensuring the continued growth of the Association by providing valuable benefits and resources to our members and other industry stakeholders.
To be an invaluable and influential resource for healthcare revenue cycle and business management services.
HBMA provides education, advocacy, collaboration and certification for healthcare billing professionals and providers engaged in the business and technology of healthcare revenue cycle management.
Revenue Cycle Management (RCM) Definition
Revenue Cycle Management (RCM) is the administration of financial transactions that result from the medical encounters between a patient and a provider, facility, and/or supplier. These transactions include, without limitation, billing, collections, payer contracting, provider enrollment, coding, data analytics, management, and compliance.
The HBMA membership, representing more than 47,000 employees at nearly 500 revenue cycle management firms and professional billing departments. An increasing number also offer accounts receivable management, consulting, electronic medical record services and practice management functions.
Ethics & Integrity
HBMA is serious about ethics and integrity. With the objective of eliminating unethical practices from the industry, HBMA partnered with the Department of Health and Human Services' Office of the Inspector General to write compliance plan guidelines for third-party medical billing companies. In addition, the association has developed the Medical Biller's Code of Ethics, which members agree to adhere to.